No, liquidity is the market's ability to make a transaction with an asset without affecting that asset's price, not how easily it can be exchanged. Cash transac

No, liquidity is the market's ability to make a transaction with an asset without affecting that asset's price, not how easily it can be exchanged. Cash transactions are pretty much as liquid as it's possible for anything to be. As another poster mentions above, a $1m bitcoin transaction has be to spread out over a day or two to not impact price, otherwise it can fluctuate several percent.